80 FR 72490 - Proposed Collection; Comment Request for Form 5213.

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 223 (November 19, 2015)

Page Range		72490-72490
FR Document		2015-29563

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 5213, Election to Postpone Determination as To Whether the Presumption Applies That an Activity Is Engaged in for Profit.

Federal Register, Volume 80 Issue 223 (Thursday, November 19, 2015)

[Federal Register Volume 80, Number 223 (Thursday, November 19, 2015)]
[Notices]
[Page 72490]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-29563]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 5213.

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 5213, Election to Postpone Determination as To Whether the 
Presumption Applies That an Activity Is Engaged in for Profit.

DATES: Written comments should be received on or before January 19, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Michael Joplin, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Kerry Dennis, 
at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Election To Postpone Determination as To Whether the 
Presumption Applies That an Activity Is Engaged in for Profit.
    OMB Number: 1545-0195.
    Form Number: 5213.
    Abstract: Section 183 of the Internal Revenue Code allows taxpayers 
to elect to postpone a determination as to whether an activity is 
entered into for profit or is in the nature of a nondeductible hobby. 
The election is made on Form 5213 and allows taxpayers 5 years (7 years 
for breeding, training, showing, or racing horses) to show a profit 
from an activity.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals.
    Estimated Number of Respondents: 3,541.
    Estimated Time per Respondent: 47 minutes.
    Estimated Total Annual Burden Hours: 2,762.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: November 10, 2015.
Michael Joplin,
IRS Reports Clearance Officer.
[FR Doc. 2015-29563 Filed 11-18-15; 8:45 am]
BILLING CODE 4830-01-P

72490 Federal Register / Vol. 80, No. 223 / Thursday, November 19, 2015 / Notices

The following paragraph applies to all Notice and request for
ACTION: Affected Public: Business or other for-
of the collections of information covered comments. profit organizations and individuals.
by this notice: Estimated Number of Respondents:
An agency may not conduct or SUMMARY: The Department of the
Treasury, as part of its continuing effort 3,541.
sponsor, and a person is not required to
respond to, a collection of information to reduce paperwork and respondent Estimated Time per Respondent: 47
unless the collection of information burden, invites the general public and minutes.
displays a valid OMB control number. other Federal agencies to take this Estimated Total Annual Burden
Books or records relating to a collection opportunity to comment on proposed Hours: 2,762.
of information must be retained as long and/or continuing information
collections, as required by the The following paragraph applies to all
as their contents may become material
Paperwork Reduction Act of 1995, of the collections of information covered
in the administration of any internal
Public Law 104–13 (44 U.S.C. by this notice:
revenue law. Generally, tax returns and
tax return information are confidential, 3506(c)(2)(A)). Currently, the IRS is An agency may not conduct or
as required by 26 U.S.C. 6103. soliciting comments concerning Form sponsor, and a person is not required to
Request for Comments: Comments 5213, Election to Postpone respond to, a collection of information
submitted in response to this notice will Determination as To Whether the unless the collection of information
be summarized and/or included in the Presumption Applies That an Activity Is displays a valid OMB control number.
request for OMB approval. All Engaged in for Profit. Books or records relating to a collection
comments will become a matter of DATES: Written comments should be of information must be retained as long
public record. received on or before January 19, 2016 as their contents may become material
Comments are invited on: (a) Whether to be assured of consideration. in the administration of any internal
the collection of information is ADDRESSES: Direct all written comments revenue law. Generally, tax returns and
necessary for the proper performance of to Michael Joplin, Internal Revenue tax return information are confidential,
the functions of the agency, including Service, room 6129, 1111 Constitution as required by 26 U.S.C. 6103.
whether the information shall have Avenue NW., Washington, DC 20224. Request for Comments: Comments
practical utility; (b) the accuracy of the submitted in response to this notice will
FOR FURTHER INFORMATION CONTACT:
agency’s estimate of the burden of the be summarized and/or included in the
collection of information; (c) ways to Requests for additional information or
copies of the form and instructions request for OMB approval. All
enhance the quality, utility, and clarity comments will become a matter of
of the information to be collected; (d) should be directed to Kerry Dennis, at
Internal Revenue Service, Room 6129, public record. Comments are invited on:
ways to minimize the burden of the (a) Whether the collection of
collection of information on 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the information is necessary for the proper
respondents, including through the use
Internet, at Kerry.Dennis@irs.gov. performance of the functions of the
of automated collection techniques or
SUPPLEMENTARY INFORMATION: agency, including whether the
other forms of information technology;
Title: Election To Postpone information shall have practical utility;
and (e) estimates of capital or start-up
Determination as To Whether the (b) the accuracy of the agency’s estimate
costs and costs of operation,
Presumption Applies That an Activity Is of the burden of the collection of
maintenance, and purchase of services
Engaged in for Profit. information; (c) ways to enhance the
to provide information.
OMB Number: 1545–0195. quality, utility, and clarity of the
Approved: November 13, 2015. Form Number: 5213. information to be collected; (d) ways to
Michael Joplin, Abstract: Section 183 of the Internal minimize the burden of the collection of
IRS Reports Clearance Officer. Revenue Code allows taxpayers to elect information on respondents, including
[FR Doc. 2015–29564 Filed 11–18–15; 8:45 am] to postpone a determination as to through the use of automated collection
BILLING CODE 4830–01–P whether an activity is entered into for techniques or other forms of information
profit or is in the nature of a technology; and (e) estimates of capital
nondeductible hobby. The election is or start-up costs and costs of operation,
DEPARTMENT OF THE TREASURY made on Form 5213 and allows maintenance, and purchase of services
taxpayers 5 years (7 years for breeding, to provide information.
Internal Revenue Service training, showing, or racing horses) to Approved: November 10, 2015.
Proposed Collection; Comment show a profit from an activity.
Michael Joplin,
Request for Form 5213. Current Actions: There are no changes
being made to the form at this time. IRS Reports Clearance Officer.
AGENCY: Internal Revenue Service (IRS), Type of Review: Extension of a [FR Doc. 2015–29563 Filed 11–18–15; 8:45 am]
Treasury. currently approved collection. BILLING CODE 4830–01–P
mstockstill on DSK4VPTVN1PROD with NOTICES

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Document Created: 2015-12-14 13:57:04
Document Modified: 2015-12-14 13:57:04

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comments.
Dates		Written comments should be received on or before January 19, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the form and instructions should be directed to Kerry Dennis, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet, at [email protected]
FR Citation		80 FR 72490

80 FR 72490 - Proposed Collection; Comment Request for Form 5213.

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 80, Issue 223 (November 19, 2015)

DEPARTMENT OF THE TREASURY
Internal Revenue Service